https://www.taxtmi.com/forum/issue?id=106716 Whether admission of new partners concurrent with retirement of existing partners depends on the partnership deed: if the deed is silent retirement dissolves the firm; if the deed contains an express continuity clause the firm continues and new partners are admitted by adjusting liability and profit sharing ratios. The reply does not address specific income tax or other revenue treatment regarding immovable property. en-us Wed, 16 Apr 2014 11:38:39 +0530 Thu, 23 Jan 2025 15:57:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=106716 Whether admission of new partners concurrent with retirement of existing partners depends on the partnership deed: if the deed is silent retirement dissolves the firm; if the deed contains an express continuity clause the firm continues and new partners are admitted by adjusting liability and profit sharing ratios. The reply does not address specific income tax or other revenue treatment regarding immovable property. Discussion-Forum Indian Laws Wed, 16 Apr 2014 11:38:39 +0530 https://www.taxtmi.com/forum/issue?id=106716